Intel announced Monday that it was bringing Steven Fund, a senior executive at Staples, on board as the corporation's newest head of global marketing. Mr. Fund will take over as chief marketing officer, replacing former Intel CMO Deborah Conrad, in a bid by the company to reinvigorate its marketing efforts and bring sorely lacking consumer interest back to the technology firm. Mr. Fund brings with him years of marketing experience, not only for the aforementioned Staples but also as a recognized branding professional under both Procter & Gamble and the Pepsi-Cola Corporation.
The Company Clearly Needs All the Help It Can Get
It's no secret that 2014 hasn't brought success or consumer confidence for Intel. In January, the company announced plans to slash 5% of its work force, a personnel reduction of over 100,000 people. The downsizing was announced after the company's first earnings report of the year led to a forecast of no growth for Intel through 2014.
The Biggest Problem? Mobile
Where Intel got into trouble was by virtually ignoring the explosion of popularity of mobile technology, while companies like Google and Apple were making a point to develop their phones and tablets. In the end, this led the company into an ostensibly endless game of catch-up.<br>
The company bringing Mr. Fund on certainly signals their intention to try for a clean slate. Fund has the background to not only craft an effective marketing strategy but to track it and tweak it as time goes forward. By tracking and analyzing the strategy in real time, Fund can give Intel a real idea of ROI, the amount of money being spent versus that being gained in leads. This hands-on approach is something the company could have used desperately during the tenure of its previous CMO to help bail the sinking ship out.
Even with Fund's added know-how, Intel has a long slog ahead of it. Analysts at JP Morgan have effectively recommended that the company give up its dreams of becoming a player in the mobile market, saying that whatever the company could do would be too little, too late. However, with the only other option being to continue to see diminishing returns on a constantly shrinking desktop PC market, Intel and Fund have no choice but to go for broke.